Published 12-15-2019 search group HUDGuidance
HUD Guidance 2019: "When the grantee reimburses homeowners, businesses, or other entities for these costs, the grantee may also pay any outstanding interest due on the portion of the principal of subsidized loans used to pay the costs eligible for reimbursement."
HUD FR-6169-N-02 Update:
"Waiver to permit payment of limited interest costs. Section 105(a) is waived to the extent it limits activities to only those activities listed in section 105(a)(1) - (26), and HUD is imposing the following alternative requirement to create a new eligible activity to allow the use of CDBG-DR to pay interest due on subsidized loans in limited circumstances described in this paragraph. Homeowners, businesses, and other entities that received subsidized loans to pay the costs of eligible rehabilitation, demolition, and reconstruction of single family, multifamily, and nonresidential buildings (including commercial properties) are eligible for reimbursement, subject to the requirements of the 2019 DOB Notice, the Prior Notices, and CPD Notice 2015-07 (as may be amended or replaced from time to time). When the grantee reimburses homeowners, businesses, or other entities for these costs, the grantee may also pay any outstanding interest due on the portion of the principal of subsidized loans used to pay the costs eligible for reimbursement. CDBG-DR funds cannot be used to pay fees or the portion of interest attributable to activities that are ineligible for reimbursement."
HUD FR Notice:
"Grantees are prohibited from reimbursing costs that are not otherwise eligible for CDBG-DR assistance, such as compensation for personal property loss or late fees. Payment of interest is not generally an eligible activity, but if permitted by an applicable Federal Register notice granting a waiver, grantees may pay interest due at the time of reimbursement for eligible activities (e.g., interest incurred by the applicant for the portion of an SBA loan used for a CDBG-DR eligible activity)."
Resource Links:
No inspection from FEMA? Registered and reported Minor Damage but able to live in my home? Only Remote Telephone Inspection? Home Repair Funds less than actual repairs?
#454 published 12-27-2022 updated 3-4-2023 1 min. 9 seconds read, search group Inspection.
If your manufactured home was damaged or developed unhealthy living conditions after a declared disaster due to the disaster can I receive a grant to replace my mobile home?
#443 published 1-23-2023 updated 3-4-2023 1 min. 26 seconds read, search group Manufactured Home.
Restore Louisiana Homeowner Assistance Program will provide assistance to homeowners who need to demolish and reconstruct their disaster damaged home.
#449 published 1-14-2023 26 seconds read, search group Damage.
How to use our Research Based Learning pages to better understand a subject, to collect the missing pieces of the puzzle, to start a research project or to close out your research project. Resources published here are parts or segments of..
#1 published 12-30-2018 updated 12-12-2020 1 min. 55 seconds read, search group HowToResearch.
INTERNSHIP OPPORTUNITY: NON-PAID OVERWORKED NONPARTISAN
#241 published 4-23-2020 1 min. 9 seconds read, search group PSA.
SBA Updates data processed from research between 11-2019 and 12-2019
#183 published 1-18-2020 3 min. 25 seconds read, search group SBALoans.
CDBG DR Award calculation letter determination on the eligibility of your grant.
#182 published 12-26-2019 2 min. 42 seconds read, search group GrantAwardLetter.
State of Louisiana Restore LA Program managed by the OCD-DRU says it will not pay interest on SBA loans.
#181 published 12-15-2019 2 min. 40 seconds read, search group HUDGuidance.
Understanding your SBA Phase and following the HUD disbursements of funds to pay off or pay down your SBA loan
#180 published 12-10-2019 3 min. 34 seconds read, search group SBA.
Questions for Congressman Graves Live Facebook event 12-5-2019
#179 published 12-5-2019 4 min. 24 seconds read, search group Transparency.